Small business owners are facing a rise in deepfake scams, with scammers using generative AI to impersonate employees and run cons. The number of AI-enabled scams has increased by 456% in a year, affecting 12% of small businesses. Improved detection tools are creating an “arms race” against scammers.

Experts warn that small businesses are at higher risk of falling victim to deepfake scams due to their lack of cybersecurity infrastructure. AI technology has made it easier for scammers to impersonate brands and launch personalized attacks. Platforms like Zoom and Teams are trying to detect AI, but it may worsen the problem.

To combat deepfake scams, small businesses should focus on confirming identities rather than disproving AI use. The trend of generative AI-based scams is likely to continue, making online business increasingly risky. Retirement income calculators are being used to check financial security as AI threats persist in the business landscape.

Read more at Yahoo Finance: How Generative AI’s ‘Deepfake Economy’ Is Hobbling Small Businesses